Which of the following statements is incorrect?
(a) Holding on to cash is the most risk‐free investment option.
(b) To maximize your return on total assets (ignoring financial risk), you must put all your money into the same type of investment category.
(c) Diversification among well‐chosen investments can reduce market volatility.
(d) Broader diversification among well‐chosen assets always leads to a higher return without increasing additional risk.